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It's an encouraging recovery for Manufacturing during quarter two

Story added 29 July 2010.

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According to the Confederation of British Industry, Manufacturing has experienced an encouraging recovery in quarter two of 2010 thus meaning the UK could well avoid a double dip recession. However, the CBI warned that the growth of manufacturing is expected to be slower in the coming quarter.

Exports continue to lead the recovery during Quarter 2 with a +18% order balance. However, orders within these shores, previously flat in most indicator surveys, now appear to be picking up too with a balance of +10%.

It has also been reported that employment was stable during this last quarter and early indication lead us to believe this will be repeated in the next quarter.

“With demand for UK-made goods at home and abroad having strengthened, manufacturing production really stepped up a gear during the past three months. Output was also boosted by firms taking action to rebuild stocks.

“Looking ahead, production is expected to rise further, but at a more moderate rate. In our view the risk of a double-dip recession remains low and the fortunes of the manufacturing sector are continuing to slowly and steadily improve.” commented Ian McCafferty, the CBI’s Chief Economic Adviser.

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